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Type:
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Informational Report
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Status:
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Filed
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On agenda:
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4/14/2021
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Final action:
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4/14/2021
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Title:
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RECEIVE AND FILE Fiscal Year 2022 Budget Development Update - Metro Transit Program.
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Indexes:
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Board approved a Motion, Budget, Budgeting, Bus Maintenance Projects, Coronavirus Aid, Relief, and Economic Security Act, Coronavirus Disease 2019 (COVID-19), Coronavirus Response and Relief Supplemental Appropriations Act of 2021, Crenshaw/LAX Transit Corridor Project, Customer service, Informational Report, Los Angeles International Airport, Maintenance, Maintenance practices, Metro Rail A Line, Metro Rail C Line, Metro Rail E Line, Metro Rail K Line, Metro Rail L Line, Microtransit, Motion / Motion Response, NextGen Bus Study, Operations and Maintenance, Outreach, Program, Public Safety Advisory Committee, Rail transit, Regional Connector Transit Corridor Project, Revenue Service, Ridership, Safety, Safety and security, Security, State Of Good Repair, Supplemental Appropriation, System safety, Transfers, Transit buses, Transit operators, Transit safety, Transit System
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Meeting_Body FINANCE, BUDGET, AND AUDIT COMMITTEE APRIL 14, 2021 Subject SUBJECT: FISCAL YEAR 2022 BUDGET DEVELOPMENT UPDATE - METRO TRANSIT PROGRAM Action ACTION: RECEIVE AND FILE Heading RECOMMENDATION Title RECEIVE AND FILE Fiscal Year 2022 Budget Development Update - Metro Transit Program. Issue ISSUE This report is the third in a series of budget development updates leading to the Fiscal Year 2022 (FY22) Budget adoption for Board consideration in May 2021. This update highlights the Metro Transit program, consisting of operating and maintenance of Metro bus and rail services, projects to keep Metro transit systems in a state of good repair, as well as the latest update of the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA). As the economy recovers from the impacts of COVID-19, we will continue to monitor and make adjustments as needed during FY22 Midyear Budget assessment. Discussion DISCUSSION As the economy and Metro financials gradually recover from the last two fiscal years of COVID-19 impact, Metro's budget outlook for FY22 is slightly more optimistic than the previous fiscal year. However, it does not fully address all the long-term costs associated with service recovery, new operational initiatives, customer experience pilots, and a new security model. Together with the accelerated roll out of COVID-19 vaccinations in Los Angeles County, continued federal stimulus of Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), and resulting economic inflection point anticipated in the third quarter of FY22, the Metro Transit program is gearing up to operate pre-COVID-19 bus and rail service levels. In February 2021, Board Motion 27.1 provided staff a clear timeline to restore bus service to 7 million annualized pre-COVID-19 revenue service hour (RSH) level by September 2021. The FY22 Budget proposes concrete plans to deliver the service level according to the Board motion. In addition, the Met... Click here for full text
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